High net worth individuals have a number of strategies they can use to lower the tax burden on themselves and their heirs. Estate planning attorney Shad Brown rejoins us to break these strategies down.

• We start with a CRT (Crut) - Charitable Remainder Trusts and Charitable Lead Trusts. Shad explains how you can leverage charitable distributions for tax benefits in the short and long term.
• Next, the ILIT - or Irrevocable Life Insurance Trust.  With ILITs, you can take assets like term life insurance, and move it out of your estate and into a trust.  Shad walks us through this process, and its benefits.
• A QTIP  Trust - or Qualified Terminable Interest Property Trust - may be useful for spouses who are re-married but want control over where their assets go upon their passing.
• Intentional Defective Trusts have a place as well - Shad explains that strategy, as well as the difference between grantor and non-grantor trusts.
• Kevin and Shad also dive into the idea of Family Limited Partnerships, and when that might be useful as your family's wealth grows.

More info:

Shad Brown, The Law Firm of Brown and Jensen

https://www.bncjlaw.com/

sbrown@bncjlaw.com

(480) 447-7107

Kevin Dick, KDI Wealth Management

https://www.kdiwealth.com/

kevin@kdiwealth.com

(928) 474-4350